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CW
Dec 26, 2012 10:00pm PST
negotiations with the fiscal cliff deadline less than a week away. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capital. the only people who can avert the fiscal cliff, members of the house and senate, have not returned. and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500. long-term unemployment benefits for about 2 million jobless americans are also set to expire, and $110 billion worth of spending cuts to domestic and defense programs will kick in, forcing layoffs in the public and private sector. if congress doesn't act, all the cuts and new taxes will squish the economy back into a mild recession by mid-2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1st because the irs and other agencies didn't expect it to come to this. it could be a few weeks before workers see more money being withheld in their paychecks. >>> george h. w. bush is in intensive care. a fever that kept him in the hospital over christmas has gotten worse. a bush family spokesperson says the 88-year-old was alert and joking with doctors but has yet to respond
CW
Dec 27, 2012 10:00pm PST
to avoid the so-called fiscal cliff. if no deal is reached taxes will go up for nearly every american and harsh spending cuts will kick in on january 1st. senators reconvened on thursday with tension spilling over on to the floor. >> speaker boehner is unwilling to negotiate. there's nothing happening. >> the phone never rang and so now here we are five days from the new year and we might finally start talking. >> reporter: senate majority lyddite harry reid skewered house speaker john boehner, charging he's more interested in his leadership position than in bipartisan legislation. >> the speaker's number one goal is to get elected speaker on january 3rd. >> reporter: the two sides are at odds over tax cuts and spending. republicans say it's up to the democraticly controlled stat and white house to reach an agreement. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: members of the house were told to come back to washington sunday evening. they would have a little m
CW
Dec 30, 2012 8:30am PST
working behind closed doors to avoid the so-called fiscal cliff. >> did you make progress today, sir? >> reporter: he and senate majority leader harry reid are working on a scaled-down agreement that focuses on a middle class tax hike on to prevent it. and house speaker john boehner was at the capitol and left with no comment. both sides remain at odds over the democrat's insistence the wealthy pay more in taxes. >> the president's tax hike would only fund the government for eight days. what and the president propose to do the other 357 days of the year? >> reporter: president obama insists his plan on the table is fair and includes plenty of cuts to government spending. >> we can't ford a politically self-inflict wound to the economy. if they don't pan out, he is ready to plomyself -- propose his own tax bill. patience is wearing thin. >> for those of us investing in the stock market, it's disgusting to watch them jockey around with our money. >> reporter: missing in all the last-minute northbounds is talks about the $1.2 trillion mandatory spending cuts scheduled to go into affect tuesday. tara mergener for cbs news, washington. >>> three people are dead after a late-night apartment fire in san jose. the fire began after 11 last night on bridgeport
CW
Dec 31, 2012 10:00pm PST
on to the tarmac. >>> the white house and congress reach a deal to avoid the fiscal cliff. what it means for everybody's paychecks. >>> and we'll take you behind the scenes on the biggest new year's eve celebration in town. good evening i'm elizabeth cook. >> i'm brian brian. ken's got the night off. we begin with developing news at the international airport. police pursued this man over the tarmac. he hopped the fence just before 8:00 tonight and started running towards the terminal making it across two runways before police caught up with him. he was out there for 15 minutes. it's not clear exactly what the man's intent was, but does suffer from a mental illness. >>> thousands of partyers are flooding the streets of san francisco. and with a behind the scenes look at the biggest party in town. hi elizabeth. >> reporter: hi. we are still two hours away from the new year, but they are starting to get excited. and and with the wigs, the same thing. new year's eve will be here on the clearest. and i mean hey, i'm a huge giant's fan. it'll be every year for one main thing. the firewor
Search Results 0 to 3 of about 4